UTC to purchase Rockwell Collins in $30 billion deal

News
September 18, 2017

September 18, 2017

Aerospace supplier United Technologies Corp (UTC), Farmington, Connecticut, USA, has reportedly struck a $30 billion agreement to buy avionics and interiors maker Rockwell Collins Inc, Cedar Rapids, Iowa, USA. The deal is expected to create one of the world’s largest makers of civilian and defence aircraft components.

UTC will pay $140 per share for Rockwell Collins, split between $93.33 per in cash and $46.67 in stock, according to the companies. The acquisition price implies a total transaction value of $30 billion, including Rockwell Collins’ debt, and a total equity value of $23 billion. UTC said it plans to fund the cash portion through debt issuances and cash on hand.

Greg Hayes, UTC’s Chairman and Chief Executive Officer, stated, “This acquisition adds tremendous capabilities to our aerospace businesses and strengthens our complementary offerings of technologically advanced aerospace systems.”

“Together, Rockwell Collins and UTC Aerospace Systems will enhance customer value in a rapidly evolving aerospace industry by making aircraft more intelligent and more connected,” he concluded. 

Under the deal, Rockwell Collins and UTC’s aerospace systems segment will be combined to create a new business unit; Collins Aerospace Systems. 

utcaerospacesystems.com

rockwellcollins.com 

News
September 18, 2017

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